Category: Kevin Gallagher

China faces Catch-22 dilemma over Venezuela debt pile as default looms

Emerging Markets Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies China is fast approaching a crossroads in its relationship with Venezuela, the troubled economy that it has funded to the tune of some $66bn but which is now facing an almost inevitable default, analysts believe… Expert quote: “China has become ensnared […]

LatAm’s new power players: Chinese development banks outgun WB, IDB

Emerging Markets Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Health China’s two big development banks have become genuine power players in Latin America — to the point where they wield as much if not more regional clout than either the World Bank or its regional-focused sibling, the Inter-American Development Bank… Expert […]

China’s ambitions for Asia show through in ‘Silk Road’ lending

Financial Times (subscription required) Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies China’s quest for economic centrality in Asia and its ambition to become a global maritime power are emerging as twin priorities within the “One Belt One Road” (OBOR) initiative, a grand strategic plan through which Beijing hopes to create […]

The End of the Line for Bolivia’s President

Bloomberg View Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies For Bolivia’s Evo Morales, elections have been moments of triumph… Expert quote: “The running joke is that if a Chinese loan is signed in the morning, the shovels will be in the truck by after lunch.” View full article

China overtakes West in development funding to Latin America

The Tico Times Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies The China Development Bank’s $395 million loan to Costa Rica for expanding the highway that links San José to the Caribbean port of Limón is part of a dramatic surge in Chinese financing across Latin America… Expert quote: “While Western development […]

Peru has copper. China wants it. And now Beto Chahuayllo is dead.

Los Angeles Times Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies When the Chinese took over the Las Bambas copper mine here in the Andes Mountains in 2014, Beto Chahuayllo at first barely noticed the change… Expert quote: “Finance ministries loved it, and so did the heads of state.” View full […]

China’s big bet on Latin America is going bust

CNNMoney.com Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies Last year alone, China offered $65 billion to Latin America, it biggest bet yet. Many see the move as a power play to counter the U.S. influence in the region… Expert quote: “They’re now giving loans to protect their previous loans. They’re […]

China doubles bets on ailing Latin American economies

Financial Times (subscription required) By Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies As Western-backed development banks and the private sector are on the retreat from Latin America, China’s development banks are coming to the rescue, at least for now… View full article by expert Kevin Gallagher

Latin America: China’s power play right under the U.S.

CNNMoney.com Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies China is making its biggest bet ever on Latin America, just as the United States is turning its back… Expert quote: “China underestimated challenges that it would face in the region. But while the rest of the investment community has turned sour […]